Gold Market Wire
News, analysis and commentary for gold traders and investors
Metals Update
Precious Metals Pullback from Run
May 23, 2024 - (Gold Market Wire) - The rather strong rally has finally paused, and we are pulling back. Nothing, but nothing moves in a straight line - not even magical Silver.
We'll stick to Silver, as it has really led the way up. Almost 30% upside action in 3 weeks. That's heady stuff. The pullback is not only deserved, but healthy. Our trendline is as plain as day, and we will use it for a first purchase, adding to the position of length, and weighted to prepare for a further pullback.
This market has, in no way, finished what will prove to be an epic move. By our estimation, we have another two years to run - at a minimum. If you like to trade, you're about to get the chance of a lifetime. Pullbacks need to be bought, profits taken at regular intervals, and the core held like iron.
Good luck!